Question
You have just won the lottery and will receive $610,000 in one year. You will receive payments for 19 years, which will increase 5 percent
| You have just won the lottery and will receive $610,000 in one year. You will receive payments for 19 years, which will increase 5 percent per year. The appropriate discount rate is 12 percent. |
Required:
| What is the present value of your winnings? |
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
